Credo Technology Group (NASDAQ:CRDO) Raised to “Buy” at Wall Street Zen

Credo Technology Group (NASDAQ:CRDO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

CRDO has been the subject of a number of other reports. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. William Blair assumed coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating for the company. Noble Financial raised shares of Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $155.00 price target on shares of Credo Technology Group in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $126.27.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $146.01 on Friday. Credo Technology Group has a 1-year low of $29.09 and a 1-year high of $176.70. The company has a 50-day moving average of $129.40 and a 200 day moving average of $85.87. The firm has a market cap of $25.26 billion, a PE ratio of 217.93 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the company earned $0.04 earnings per share. The firm’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts anticipate that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Activity at Credo Technology Group

In related news, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of the transaction, the chief technology officer directly owned 7,328,961 shares of the company’s stock, valued at $673,824,674.34. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 743,915 shares of company stock valued at $91,779,645 over the last ninety days. 11.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $1,296,000. Orion Porfolio Solutions LLC acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $663,000. Thrivent Financial for Lutherans grew its stake in shares of Credo Technology Group by 5.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 35,225 shares of the company’s stock worth $3,261,000 after purchasing an additional 1,812 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $380,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $272,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.